While the vast majority of the crypto market is currently on a bearish stance, Shiba Inu (SHIB) is poised to embark on a strikingly bullish trajectory.
This potential turnaround is mainly due to a promising announcement: the anticipated launch of the Shibarium layer 2 blockchain in August this year. Confirmed by the SHIB team itself, this groundbreaking development has the potential to serve as a significant driver for the popular memecoin. Does this mean Shiba Inu could ever be worth $1?
Launch Shibarium after Blockchain Futurist Conference
Shytoshi Kusama, the leading developer of the Shiba Inu ecosystem, recently shared an exciting update on the future of this popular meme-based cryptocurrency. In a recent announcement, Kusama indicated that Shibarium, a new and exciting part of the Shiba Inu ecosystem, will go live after the Blockchain Futurist Conference.
The Blockchain Futurist Conference, a renowned event in the digital currency world, will be held in Toronto on August 15-16, 2023. This conference brings together the most influential players in the blockchain industry and provides an ideal springboard for the launch of Shibarium. According to Kusama’s announcement, this launch will herald a new phase for Shiba Inu and its community.
In a blog post published on July 6, Kusama underscored the potential impact of Shibarium’s launch. He stressed that this is an important step forward in the evolution of the Shiba Inu ecosystem, and one that could attract the attention of the entire cryptocurrency sector. Kusama believes this new development has the potential to not only expand Shiba Inu’s reach, but also strengthen its position in the digital currency world.
BONE and LEASH see big price increase
Noted crypto market analyst Metaquant, popular on Twitter, has noticed a significant shift around SHIB-related digital coins. There is a strong movement towards these coins such as Bone ShibaSwap (BONE), Doge Killer (LEASH), WoofWork (WOOF) and PawZone (PAW). These coins are seen as big winners in the busy world of crypto.
What 2023 has in store for SHIB
Metaquant has identified several events that could have a major impact on the price of SHIB in 2023. These include the expected launch of UNODE and plans for Unification (FUND) and Liquid Shibarium Derivatives (LSD). In addition, there is also a lot of excitement around the GambleFi platform ShibBets and the upcoming Liquid Paw (LPAW) 1-1 airdrop, coupled with the LPAW token migration at the launchpad release. Each of these events can give a significant boost to SHIB’s growth.
Conclusion
In short, Shibarium has the potential to play a vital role in the Shiba Inu price movement. How large this effect will be, including the possibility of SHIB hitting the $1 mark, depends on several factors. These include the overarching sentiment in the broader crypto market, future market developments, and most importantly, the continuous flow of positive news surrounding the SHIB ecosystem.
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